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and every instance, even with the debt ceiling with the xegs , in every instance it has been a negotiated process. if in 100% of the other occasions there has been folks sitting down at the table, coming one a compromise, that is the american people. for harry reid to say we won't negotiate is at odds with what we've seen for more than 35 years. >> let me ask you about the sunshine itself. your district includes charleston, south carolina, 24,000 federal workers. more than 7% of the work force. the tenth highest proportion of any in the country. this matters to you and to your voters. i know you were back holding town hall meetings about it. and i'm very well aware that you're probably aware of this. that josh earnest, the white house deputy press secretary tweeted about you. quote, gop overplayed their hand in shutting down the government over aca. obviously, the affordable care act. that's what mark sanford told a town hall meeting in south carolina. i said that and i said did you say that? i went back and checked the tape and here's what you said. >> they've overplayed their hand. >> t
and every instance, even with the debt ceiling with the xegs , in every instance it has been a negotiated process. if in 100% of the other occasions there has been folks sitting down at the table, coming one a compromise, that is the american people. for harry reid to say we won't negotiate is at odds with what we've seen for more than 35 years. >> let me ask you about the sunshine itself. your district includes charleston, south carolina, 24,000 federal workers. more than 7% of the work...
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Nov 10, 2013
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ceiling hostage. >> some of the president's detractors compare every scandal to watergate, with which you are familiar with. irs was worth that watergate. it was said yesterday obama care is worse than watergate. wa do you make of those comparisons? >> it's like all these people walking around washington who are going to be president and never exactly made it. you can't predict and it depends on the information. >> even watergate wasn't watergate originally. it took many months for the magnitude of the crimes to be revealed. in other words, it wasn't like it exploded on day one. >> it took two years, two months before nixon resigned. so, you know, little patience. but i think we need to be in a really aggressive mode and look at these things. take obama care now. yeah, you need to look at the government, but you know what the big issue is? the insurance companies. what's going on? how are they looking at this? i tell you, they know how to measure profits and they're -- that's the lens through which they're seeing this. so we better look at the insurance companies as hard as we've look
ceiling hostage. >> some of the president's detractors compare every scandal to watergate, with which you are familiar with. irs was worth that watergate. it was said yesterday obama care is worse than watergate. wa do you make of those comparisons? >> it's like all these people walking around washington who are going to be president and never exactly made it. you can't predict and it depends on the information. >> even watergate wasn't watergate originally. it took many...
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Oct 10, 2013
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>> if and buts were can be enoughs every day would be christmas. >> debt threats. if congress can't strike a deal, treasury secretary jack lew has this message for the lawmakers flirting with that fiscal cliff. >> we've never been there and i think anyone who suggests knows exactly what that means would be projecting after 224 years of the history paying all of our bills what happens if we stop paying all our bills. >> the senate has just now joined the house, voting to approve the pentagon paying death benefits during the shutdown despite the lack of appropriations. now, will the president sign that legislation? >> well, when did they all know about the benefits freeze? you won't believe what the pentagon had warned days before the shutdown. >>> good day, i'm andrea michelle in washington where speaker boehner is expected to walk into the white house this afternoon with a short-term solution to avoid defaulting on our national debt. but we are still nowhere near a solution to opening the federal government. texas congressman chairs the committee and will be at the
>> if and buts were can be enoughs every day would be christmas. >> debt threats. if congress can't strike a deal, treasury secretary jack lew has this message for the lawmakers flirting with that fiscal cliff. >> we've never been there and i think anyone who suggests knows exactly what that means would be projecting after 224 years of the history paying all of our bills what happens if we stop paying all our bills. >> the senate has just now joined the house, voting to...
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Jan 17, 2013
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that was easy. >>> debt ceiling ises much a war of words as it is with numbers. what constitutes a default? and with the economic damage of hitting the ceiling could it be worse than the fiscal cliff? steve liesman has more on that. steve. >> the questions are not easy. they again into sell mandics and have everything to do with if the debt ceiling is solved, and if only for investors, the most important part, what's the economic impact? let's look at some of the rhetoric. the debt ceiling, is it a real tragedy or soap opera? what we have done is graduate the screen from blue over to red, democrat ideas on this side, red on this side. democrats right now hitting the debt ceiling, not raising it. so some republicans say it's manageable. on that issue carl mentioned of default, any missed government employees, that would constitute a default. others are say no, no, we're not paying off the debt itself, that's what default is. on another critical issue, could the government prioritize its payments, take the payments, the cash that's coming in and use it to pay a cer
that was easy. >>> debt ceiling ises much a war of words as it is with numbers. what constitutes a default? and with the economic damage of hitting the ceiling could it be worse than the fiscal cliff? steve liesman has more on that. steve. >> the questions are not easy. they again into sell mandics and have everything to do with if the debt ceiling is solved, and if only for investors, the most important part, what's the economic impact? let's look at some of the rhetoric. the...
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Aug 5, 2013
08/13
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we'll follow the debt ceiling negotiations, just as we have every other time. >> bearish today, miss evans? i'm -- >> monday morning, come on. >> i know. feels like we're having the same old debates about the same old topics. >> you need to go out to lunch with levorneau. >> last week we touched 2.7%. >> one of the worst -- >> i was watching that. >> 2. 7, oh. >> that got my attention. i see we're back down this morning. we'll see what happens. >> thank you. >> goldman sachs hit with a class-action lawsuit over aluminum storage methods. kate kelly on a huge story moving forward. >> reporter: less than a week after goldman president on our air defending his firm's metal storage business, accused of exacerbating getting aluminum out of warehouses. in a lawsuit filed friday a michigan manufactu michigan-based company, accuses goldman and the london metal exchange which sets the rules for warehouses like goldman's of anti-competitive and monopolistic behavior in the warehousing market in connection with aluminum prices which resulted in inflating prices of aluminum and threatening worker
we'll follow the debt ceiling negotiations, just as we have every other time. >> bearish today, miss evans? i'm -- >> monday morning, come on. >> i know. feels like we're having the same old debates about the same old topics. >> you need to go out to lunch with levorneau. >> last week we touched 2.7%. >> one of the worst -- >> i was watching that. >> 2. 7, oh. >> that got my attention. i see we're back down this morning. we'll see what...
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Jan 31, 2013
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dollar increase in the debt ceiling. those amendments expected to be defeated. the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of the economy. at least it wasn't a -- that kind of rein. there's three of them. anyway, joining us for the next hour is bob bruska. that's fao -- >> no. you cannot. >> fao economics. as becky said at the top, things are going to go really well or the market is going to have an '87 crash. >> i like the binary outlook. >> everything you said was so good until you gout to that point. >> he usually wears one of these very clever ties. >> i'm not going to give him any -- >> there you go, joe. >> you didn't forget because you are getting
dollar increase in the debt ceiling. those amendments expected to be defeated. the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of...
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there are more debt ceiling deniers than ever before. the political types who are saying, oh, it wouldn't be that bad. >> we'll see. hopefully we won't see it. >> yeah, right. >> thank you. >>> the government is just days away from this dangerous deadline we were just talking about. what would it mean for you if washington doesn't pay its bills, how a debt default could seriously impact your life. yo, yo, yo. aflac. wow. [ under his breath ] that was horrible. pays you cash when you're sick or hurt? [ japanese accent ] aflac. love it. [ under his breath ] hate it. helps you focus on getting back to normal? [ as a southern belle ] aflac. [ as a cowboy ] aflac. [ sassily ] aflac. uh huh. [ under his breath ] i am so fired. you're on in 5, duck. [ male announcer ] when you're sick or hurt, aflac pays you cash. find out more at aflac.com. i honestly never thought that someone would try to enter into my home without my permission. when i arrived at the residence, to my surprise, the officers had already received a call from adt and had gotten
there are more debt ceiling deniers than ever before. the political types who are saying, oh, it wouldn't be that bad. >> we'll see. hopefully we won't see it. >> yeah, right. >> thank you. >>> the government is just days away from this dangerous deadline we were just talking about. what would it mean for you if washington doesn't pay its bills, how a debt default could seriously impact your life. yo, yo, yo. aflac. wow. [ under his breath ] that was horrible. pays...
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if we hit the debt ceiling february 15th, the same bipartisan policy center report said we would basically take one month time, $165 billion out of the economy. that is 10% of gdp in one month. that would send the economy back into recession, unemployment would skyrocket again, we would be far worse off. we need a balanced approach to deficit reduction. we started on that track and need to continue. ashley: congressman ron, responded you can. >> my good friend is totally wrong. it is not government spending that will stimulate the economy. we need to leave those dollars in the hands of job producers and family businesses, the hands of consumers instead of sending it to the federal government in washington d.c.. we have to cut spending. the american people want us to deal with this issue right now. $16.4 trillion is unsustainable. every man, woman or child, even the newborn babies, $52,000 a person, that is unsustainable. we have to cut spending, make major cuts in spending across all of the whole government expenditures including the non discretionary funds, so-called entitlements. we have
if we hit the debt ceiling february 15th, the same bipartisan policy center report said we would basically take one month time, $165 billion out of the economy. that is 10% of gdp in one month. that would send the economy back into recession, unemployment would skyrocket again, we would be far worse off. we need a balanced approach to deficit reduction. we started on that track and need to continue. ashley: congressman ron, responded you can. >> my good friend is totally wrong. it is not...
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Oct 16, 2013
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so we'll discuss how could that be if we're bumping up against debt ceiling? what will that money free up the treasury to be able to pay? and is our credibility really on the line here? there's two sides to that story. and of course we'll discuss every side to every story in about ten minutes. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade-proud to be ranked "best overall client experience." >>> welcome back. we're taking a look at financials in particular. >> there's a good reason for those financials to be among the best performers in that index today. we have a number of positive catalysts on the earnings front. today is one of the heavier days in terms of banks reporting. check out shares of regional bank
so we'll discuss how could that be if we're bumping up against debt ceiling? what will that money free up the treasury to be able to pay? and is our credibility really on the line here? there's two sides to that story. and of course we'll discuss every side to every story in about ten minutes. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money...
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Oct 9, 2013
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in every one of the instances with the debt ceiling increase and government shutdowns with exception of a couple of years where a debt ceiling increase was based on whatever the budget was set, with that one exception, 100% of the time with no exception there has always been negotiations between the president, the senate, and the house in these matters. what the approximate the is saying in this instance is let's step away from the precedent of how it has been done for the last 35 years. >> congressman, the president has negotiated on these points over the last several years and now the country is being held hostage to a few members who say they love their country and don't want to stand up to this. >> six months is an eternity and the fact that he may have negotiated a deal he may not like a couple of years ago with budget agreement or an attempt in that direction, it is not -- no, they want to break it. the deal wants to come from the democrats he wants to lower -- >> he is honoring the deal set by the sequester. they want to pull back from that. >> i want a yes or no. >> i would s
in every one of the instances with the debt ceiling increase and government shutdowns with exception of a couple of years where a debt ceiling increase was based on whatever the budget was set, with that one exception, 100% of the time with no exception there has always been negotiations between the president, the senate, and the house in these matters. what the approximate the is saying in this instance is let's step away from the precedent of how it has been done for the last 35 years....
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Nov 1, 2013
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the last -- for whatever reason, every time we have a debt ceiling fight, consumer confidence plunges epic amounts. the one in 2011 is the biggest drop in the history of the series except for leemahman, bir than 9/11, bigger than iranian hostage crisis, and it took five months before consumer confidence returned to the dumpy levels it was before the '11 debt ceiling. this time, you saw a big drop in consumer confidence. if we get into another shutdown fight within the five-month period, i fear this thing could essentially turn into just a permanent thumb pressing down on consumer confidence. i'm definitely worried about that. >> and you think that's a real possibility? i mean, handicap -- >> yeah, i do think -- i was getting heartened to see mitch mcconnell say there was definitely not going to be another shutdown because it went badly for republicans. >> right. >> but i will say with the troubles of the health plan and the rollout of the website, you got to think that the same group that said let's demand to turn off obama care or to delay it, otherwise we shutdown the government. ea
the last -- for whatever reason, every time we have a debt ceiling fight, consumer confidence plunges epic amounts. the one in 2011 is the biggest drop in the history of the series except for leemahman, bir than 9/11, bigger than iranian hostage crisis, and it took five months before consumer confidence returned to the dumpy levels it was before the '11 debt ceiling. this time, you saw a big drop in consumer confidence. if we get into another shutdown fight within the five-month period, i fear...
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Sep 24, 2013
09/13
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everybody in the media, the social media, every magazine, every newspaper talking about debt ceiling. you know, all for one and one for all. when you look at the economies of europe, china, the u.s., japan, it's almost as though there has been a pact. we've talked many times about how stimulus in one country -- when everybody is interconnected globally, stimulus is fungible. it moves around the globe. when capital becomes more accessible, it doesn't necessarily matter where the country of origin is. it just starts working its way around the globe. now, consider. it's almost as though there's a self-insurance going on. if just one of the big economies had too much debt or too many problematic areas of leverage within the economy or not enough growth to sustain long-term debt and obligations, the other major economies would clean the table. but when you have everybody with the same strategy, it's almost like self-debt insurance, because if anything goes haywire, one thing we have learned is the central banks will do anything to keep the central music playing. if something happens, a res
everybody in the media, the social media, every magazine, every newspaper talking about debt ceiling. you know, all for one and one for all. when you look at the economies of europe, china, the u.s., japan, it's almost as though there has been a pact. we've talked many times about how stimulus in one country -- when everybody is interconnected globally, stimulus is fungible. it moves around the globe. when capital becomes more accessible, it doesn't necessarily matter where the country of...
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Jan 7, 2013
01/13
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treasuries with regard to debt ceiling, are they being real? whenever i have questions like this, i always go to the man. larry kudlow will be our guest in 20 minutes. you'll want to see this one. [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> a sight for sore eyes. >> good morning. happy new year. fortunately or unfortunately i get about a thousand year-end reviews. one stood out this career. one is the asset manager firm. it's up to 20 plus years now, outperformed the s&p more than two to one of 28% last career, mark ten years significant value over the s&p. and so let's talk about some of the names on the 2013 forgotten 40 list. let's start out with gold foods. why is that on the list and tell us why you like it. >> sure. thanks for having me, first. gold is on there for two reasons. on
treasuries with regard to debt ceiling, are they being real? whenever i have questions like this, i always go to the man. larry kudlow will be our guest in 20 minutes. you'll want to see this one. [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it....
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Jan 7, 2013
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what happens if it becomes clear that the sides are far apart on the debt ceiling in two months? how does the market react to that? >> well, you know what? based on the two months that we just went through with the fiscal cliff with the negotiations every day coming out, no, we're not doing this, we're not doing this, you know, they're not showing any good faith here, that's what the market is going to feel like over the next two months. i don't know that there's going be much credence, honestly, coming out of washington. at least as far as the market is concerned, until we get down to that final week, until we get down to those final hours. so i would expect that whatever we see coming out is really not going to affect the markets on a day-to-day basis like the fiscal cliff news is. you remember, you know, every day we saw a new headline. the market traded only on fiscal cliff news. economic news wasn't such a big factor. individual, you know, or news coming out of europe wasn't a big factor. i really think that the next two months is going to be based on earnings, based on empl
what happens if it becomes clear that the sides are far apart on the debt ceiling in two months? how does the market react to that? >> well, you know what? based on the two months that we just went through with the fiscal cliff with the negotiations every day coming out, no, we're not doing this, we're not doing this, you know, they're not showing any good faith here, that's what the market is going to feel like over the next two months. i don't know that there's going be much credence,...
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Jan 4, 2013
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now we have the debt ceiling debate. so certainly we cost ourselves thousands, tens of thousands, maybe hundreds of thousands of jobs over the last several months because of this whole debacle. >> i'll tell you, i think the bipartisan agreement that was agreed to did help to provide the kind of effort that the public, the american public wanted to see. and we're going to continue to see that move along. i know that the president has the support of the public. i don't think -- it's not for the president not wanting to do things. you have to have two people cooperating. >> madam secretary, the question, though, is simple, was there an impact on hiring in your estimation because of the fiscal cliff? and we ask that, because we're entering another phase in which we have to deal with spending cuts and the debt ceiling. so was there an impact, and then, will we see an impact in the next couple of months? >> i did not see a dramatic impact in this job report. i mean, if you look at the unemployment rate, it stayed about the sam
now we have the debt ceiling debate. so certainly we cost ourselves thousands, tens of thousands, maybe hundreds of thousands of jobs over the last several months because of this whole debacle. >> i'll tell you, i think the bipartisan agreement that was agreed to did help to provide the kind of effort that the public, the american public wanted to see. and we're going to continue to see that move along. i know that the president has the support of the public. i don't think -- it's not for...
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Aug 27, 2013
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ceiling without a ma jorer ti of the caucus, and majority majority? that is the way that every one of the bills has passed before in the house with republicans, but enough democrats to get over the line. >> and yeah, you say jerry, that your crystal ball is cloudy on this one, and senator, what do you think? once again, talking about the relationship between the speaker and the base. >> well, i think that the real leverage that republicans have, and that they are going to insist on is the spending levels. i do think that he is right, they are going to have a short term continuing resolution, but it will be at the spending levels of today. it will be under the sequestration top level. then the question will be, can they get some flexibility, but still have the cuts in spending going forward. >> well, i think that is right, but i think it is right vis-a-vis this continuing resolution, this budget patch. when you then get to the debt ceiling, the fight isn't so much over the spending levels of all of the appropriation bills, the thing that keeps the gove
ceiling without a ma jorer ti of the caucus, and majority majority? that is the way that every one of the bills has passed before in the house with republicans, but enough democrats to get over the line. >> and yeah, you say jerry, that your crystal ball is cloudy on this one, and senator, what do you think? once again, talking about the relationship between the speaker and the base. >> well, i think that the real leverage that republicans have, and that they are going to insist on...
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>> i think the thing he wants to get more than anything else we won't have a fight over debt ceiling sim integration. the good news for us on immigration is unlike obama care where just about every republican hated it even those who disagreed with the tactics you have a large percent jack of the republican party the economic conservatives for immigration reform even people like the koch brothers. so there's a real chance to do immigration reform. you have people like erick cantor and paul ryan who are economic conservatives who want to do it. i think that will be his thrust. >> chris matthews a lot of us have been critical of the president from syria back saying that the guy is not a strong enough negotiator, he doesn't know how to play the game in washington. he sure knew how to play this game. >> a lot of it had to do with his situation. one of those old movies where the guy slaps the guy with his glove. you insult the guy first. we'll take your baby not the money we're going take your baby give it to us. he had to fight this one. he had to fight every inch. they gave away on his v
>> i think the thing he wants to get more than anything else we won't have a fight over debt ceiling sim integration. the good news for us on immigration is unlike obama care where just about every republican hated it even those who disagreed with the tactics you have a large percent jack of the republican party the economic conservatives for immigration reform even people like the koch brothers. so there's a real chance to do immigration reform. you have people like erick cantor and paul...
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Nov 22, 2013
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. >> joe biden may need to raise his own debt ceiling. >> 56.25. >> all right. you got ten bucks? no, no, i'm not taking that. >> are you sure? >> i've been going here for the past few years. i have paid every time i've gone. >> what happens when the vice president does not have enough money for lunch? we'll tell you over the course of the next three hours. because according to my calendar -- that's steve's watch. this is my watch. "fox & friends" starts right now. ♪ ♪ >> you know, typical washington, d.c. you wonder why we're in trouble. some guy goes out for lunch. he's got 40 bucks in his pocket. he spent 50 bucks. >> no big deal. somebody else will pay for it. >> that guy is like the vice president. >> he's just like the vice president. >> in fact he is. >> money management. >> joe biden did it again. so we have something else. we also have something very interesting. we have joe biden as senator and joe biden as vice president commenting on the nuclear option. we have president obama as president and we also have president obama as senator commentating on the nuclear opti
. >> joe biden may need to raise his own debt ceiling. >> 56.25. >> all right. you got ten bucks? no, no, i'm not taking that. >> are you sure? >> i've been going here for the past few years. i have paid every time i've gone. >> what happens when the vice president does not have enough money for lunch? we'll tell you over the course of the next three hours. because according to my calendar -- that's steve's watch. this is my watch. "fox &...
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Oct 16, 2013
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the debt ceiling deadline. when it strikes midnight, no one really knows. depending on whom you listen to, the results could be catastrophic for our financial markets and economic health or something far less severe could happen. here's what we do know. many angry and upset that we reached this point at all. that morning, we'll lay out the dominos that could fall and on whom, the implications for you and your wallet and we're going to press members of congress for answers. >> but first let's bring you up to date on what we know right now. just yesterday, late yesterday, just past 10:00 the senate quit for the night, close to a deal but no deal yet. at 9:30 this morning, the financial markets will open. many wondering if congressional leaders will try to signal a deal is imminent before that to talk investors. the house returns at 10:00 and the sna the is back at noon. honestly, beyond that we do not know a whole lot about how this will play out today. the hardest to convince remain conservative republicans, esp
the debt ceiling deadline. when it strikes midnight, no one really knows. depending on whom you listen to, the results could be catastrophic for our financial markets and economic health or something far less severe could happen. here's what we do know. many angry and upset that we reached this point at all. that morning, we'll lay out the dominos that could fall and on whom, the implications for you and your wallet and we're going to press members of congress for answers. >> but first...
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of course the debt ceiling a different issue but congressman delay thank you for sharing time with us on "new day." good luck to you going forward. mr. weiss always good to see you. beautiful tie. >> thanks, chris. >> thank you, chris. >> kate over to you. >>> coming up next on "new day," michael j. fox back in prime time on his own show. nischelle turner looks at how the show tackles his parkinson's disease and the mix of laughs and inspiration. also remember that brave little boy who asked santa to stop kids from bullying his sister? well it looks like santa answered sending some very devoted people to help. it's the good stuff, ahead. hey linda! what are you guys doing? having some fiber! with new phillips' fiber good gummies. they're fruity delicious! just two gummies have 4 grams of fiber! to help support regularity! i want some... [ woman ] hop on over! [ marge ] fiber the fun way, from phillips'. you know who you are. you can part a crowd, without saying a word... if you have yet to master the quiet sneeze... you stash tissues like a squirrel stashes nuts... well muddlers, mudd
of course the debt ceiling a different issue but congressman delay thank you for sharing time with us on "new day." good luck to you going forward. mr. weiss always good to see you. beautiful tie. >> thanks, chris. >> thank you, chris. >> kate over to you. >>> coming up next on "new day," michael j. fox back in prime time on his own show. nischelle turner looks at how the show tackles his parkinson's disease and the mix of laughs and inspiration....
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Oct 12, 2013
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what i think is interesting, though, is when you talk about the shutdown and the debt ceiling, the shutdown is actually having, it's a nonevent to the markets, but it is actually having an impact on the economy. every week the shutdown lasts, that reduces fourth quarter gdp by at least .1%. on thursday, we got jobless claims that rose by 66,000, partly because of all the government contract workers looking for work. and also consumer confidence, take a look as well. that dipped to the lowest level since 2008. so what's interesting is that the shutdown is a nonevent for the markets. but it is certainly having an impact on the economy. we are going to be watching closely. because the market is more concerned about the debt ceiling and we are going to be watching closely to see ha happens next week. ana and victor. >> any advice for investors right now? people who are watching their money in the market and wondering, pull my money out because we don't know what's going to happen? what do you think? >> i think it's clear we actually don't know haas going to happen. there's so much uncertainty r
what i think is interesting, though, is when you talk about the shutdown and the debt ceiling, the shutdown is actually having, it's a nonevent to the markets, but it is actually having an impact on the economy. every week the shutdown lasts, that reduces fourth quarter gdp by at least .1%. on thursday, we got jobless claims that rose by 66,000, partly because of all the government contract workers looking for work. and also consumer confidence, take a look as well. that dipped to the lowest...
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Oct 28, 2013
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isn't it possible that this tea party movement or this battle over the debt ceiling, the government shutdown could help clean out the extremists part of the republican party because people are beginning to lose faith in it? >> well every purge reaches a point where the tide turns the other way and it goes too far and there's a question now in the aftermath of the government shutdown is whether the republican spaert going to rally back around its sort of center right establishment. as we've seen in earlier discussion this morning, most of the stallworth republican senators who are up next year face primary elections and they face competitive democratic candidates. they have to spend five or six months spending money and running hard against tea party candidate. it's going to make them as with mitch mcconnell in kentucky, you know, they are going to have a tougher time in the general tleex even if they get past the primary. >> do you think there will be a purge particularly in the house? if you go district by district, the conservative republicans who are harshest about obama care and the shut
isn't it possible that this tea party movement or this battle over the debt ceiling, the government shutdown could help clean out the extremists part of the republican party because people are beginning to lose faith in it? >> well every purge reaches a point where the tide turns the other way and it goes too far and there's a question now in the aftermath of the government shutdown is whether the republican spaert going to rally back around its sort of center right establishment. as...